Geojit BNP Paribas Financial Services, leading brokerage firm has announced that it has recorded a phenomenal growth of 150% in its net profit during the second quarter of current fiscal.

In the quarter under review, company's net profit figure stood at Rs 13 crore as compared to Rs 5 crore in the corresponding period last fiscal.

The company has attributed the growth in net profit to favourable market conditions in addition to renewed investor confidence.

Company's revenue in reporting quarter has witnessed a growth of 60% which stood at Rs 80 crore against Rs 50 crore in the same period last year.

The sources informed that company's profit before tax during the said quarter surged 110% to Rs 22.11 crore against Rs 10.54 crore in the corresponding period previous year.

For the six months ended September, the company's consolidated income surged 61% to Rs 157 crore from Rs 97 crore during the similar period last year.

The sources said that the conglomerate has added about 68,000 clients over the previous year.

As per the latest reports, Geojit has spread out its new branches in North India, Gujarat, West Bengal as well as Orissa to reach out to local investors.